Twitter Hackers Target 130 Accounts in Coordinated Bitcoin Scam

A massive cyberattack targets 130 Twitter accounts, including high-profile politicians and business leaders, to run a bitcoin scam. The social media company blames the breach on a coordinated social engineering attack against its own employees.

17 Jul 2020 • 1 min read

Twitter reveals that a massive cyberattack targets approximately 130 accounts as part of a coordinated bitcoin scam. Hackers gain full control of a small subset of these accounts, allowing them to post fraudulent messages directly from the profiles of prominent figures like Elon Musk, Jeff Bezos, and Barack Obama.

The attackers trick Twitter employees through a social engineering scheme to hand over access to internal systems and tools. This insider threat allows the hackers to hijack the genuine accounts of major politicians and corporate giants, including Apple and Uber, to promise users double their money back on cryptocurrency payments.

The fraudulent tweets generate $121,000 in bitcoin from over 400 payments before Twitter stops the spread. Cybersecurity experts note that while the financial damage is limited, the attackers possess the ability to cause far greater disruption by manipulating the verified accounts of world leaders and influential business executives.

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